“A New Brunswick-based nonprofit lender is buying hundreds of troubled mortgages in the nine counties most impacted by Hurricane Sandy with the goal of keeping residents in their homes and revitalizing vacant properties.”
Amid foreclosure fallout, Cleveland area has hope
“CLEVELAND (AP) — Just before dinner on a warm fall afternoon recently, Cecelia Smith mounted a riding mower, steered it into the empty lot beside her tidy yellow house in the city’s Slavic Village neighborhood, and roared into her weekly chore.”
Floridians stampede for new mortgage-reduction aid
“By 9 a.m. Thursday _ just 24 hours after the state began taking applications for a principal-reduction program _ more than 12,000 Floridians with underwater mortgages applied for the aid.”
Bank Analyst: Dodd-Frank killed low-income lending
“Congress enacted the Dodd-Frank Act three years ago to remedy lending excesses that took root before the financial meltdown.”
Home price indices show home values rising more than 10%
“The home price recovery continues, despite a moderate slowdown in August, driven by rising mortgage rates and declining home affordability, CoreLogic (CLGX) claims in a new report.”